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What are Lifetime Mortgages
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What are Lifetime Mortgages

There are two main types of equity release schemes available for home owners. One such scheme is the lifetime mortgages. With a lifetime mortgage, you can pay the interest on the capital amount that you have borrowed on a monthly basis. Alternatively, with a lifetime mortgage equity release scheme, the interest can be added on to the amount of capital that you have borrowed. So effectively in such a case nothing is paid at all until death or you need to sell your property for instance long term care.

Alternatively the interest can be deducted where you are receiving your money by way of a monthly income. Here the interest can be deducted form the monthly income that you receive.

Choosing the type of lifetime mortgage that you opt for is not always straight forward. We can help you give a balanced view of each option that is available by offering you advice on the benefits and the disadvantages of each option. Our job is to provide as much information as possible to help you make your decision on the facts. This in turn helps you make the right decision ofr your circumstances.

If you are interested in learning more about lifetime mortgages, or the other options available to you, then contact us and we will be delighted to help you choose thee right equity release scheme for your circumstances




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